Global base oils exports to Egypt rose to an eight-month high in September on the back of a pick-up in shipments from Saudi Arabia.Exports of more than 19,000t to Egypt in September rose from around 10,000t the previous month, government and shipping data showed.The supplies originated from Europe, US, Asia and Saudi Arabia.Even with the rise in shipments, total base oils exports of 38,000t to Egypt in the third quarter fell from an already-low 42,000t during the previous three months.The third-quarter volume fell by 8pc from year-earlier levels to the lowest in more than four years.The drop in shipments coincided with slower-than-expected economic growth in the country in the face of high inflation and currency depreciation. Egypt’s industrial production activity slowed in September to a five-month low.Base oils exports to Egypt rose in September as a rise in shipments from Spain and the Netherlands countered a slump in supplies from Italy.A shipment from Saudi Arabia also moved to Egypt in September for the first time in three months..Global exports to Mideast Gulf hold firm in Sept.Global exports to Nigeria rise in Sept
Global base oils exports to Egypt rose to an eight-month high in September on the back of a pick-up in shipments from Saudi Arabia.Exports of more than 19,000t to Egypt in September rose from around 10,000t the previous month, government and shipping data showed.The supplies originated from Europe, US, Asia and Saudi Arabia.Even with the rise in shipments, total base oils exports of 38,000t to Egypt in the third quarter fell from an already-low 42,000t during the previous three months.The third-quarter volume fell by 8pc from year-earlier levels to the lowest in more than four years.The drop in shipments coincided with slower-than-expected economic growth in the country in the face of high inflation and currency depreciation. Egypt’s industrial production activity slowed in September to a five-month low.Base oils exports to Egypt rose in September as a rise in shipments from Spain and the Netherlands countered a slump in supplies from Italy.A shipment from Saudi Arabia also moved to Egypt in September for the first time in three months..Global exports to Mideast Gulf hold firm in Sept.Global exports to Nigeria rise in Sept
